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Daniel Kahneman
Daniel Kahneman (born March 5, 1934) is an Israeli-American psychologist notable for his work on the psychology of judgment and decision-making, as well as behavioral economics, for which he was awarded the 2002 Nobel Memorial Prize in Economic Sciences (shared with Vernon L. Smith). His empirical findings challenge the assumption of human rationality prevailing in modern economic theory. Tossup Questions # This man found that residents of Southern California and the Midwest reported similar levels of general well-being but both groups expected Californians to be happier, an example of what he called the "focusing illusion." This man argued operations such as combining probabilities or segregating different options occurred during the editing phase of decision-making, which is followed by the evaluation phase. This man and an alphabetically-latter collaborator wrote a paper that proved the substitution axiom rarely holds because people give disproportionate weight to (*) certainty. That paper also introduces the reflection effect, the name this man gave to observed risk aversion for gains but risk-seeking for losses. Thinking, Fast and Slow describes this man's work with Amos Tversky. For 10 points, name this co-developer of prospect theory. # This man led studies in which people wrote down everything they did on the previous day via the "day reconstruction method." One of this man's books proposed that overconfidence is the "Engine of Capitalism." This man's early work in vision showed that increased cognitive workload correlates with pupil dilation. In a seminar he led, this man devised a game whose only action is giving money to another person, the "dictator game." In a (*) 2011 book, he wrote that the mind has an analytical, but lazy, "System Two" and impulsive "System One." With an now-deceased Israeli colleague, he showed that people avoid risk far more than they seek reward, and studied anchoring among many heuristics and biases that aren't classically rational. For 10 points, name this Nobel laureate and author of Thinking, Fast and Slow, who worked with Amos Tversky on prospect theory. # This person authored a 1990 paper with Jack Knetsch and Richard Thaler that documented a study in which people were reluctant to trade their coffee mugs, demonstrating the endowment effect. This thinker wrote that people mostly focus on "known knowns," not "known unknowns" or "unknown unknowns" in a discussion of the W-Y-S-I-A-T-I or "what you see is all there is" phenomenon. This living person was one of the promulgators of the "Linda problem," in which people paradoxically claimed that it was more likely that Linda was a (*) "bank teller and a feminist" than just a bank teller. A work by this thinker claims that the brain forms thoughts via two mechanisms, one fast and automatic, the other slow and effortful, which this person called "System 1" and "System 2." For 10 points, name this author of Thinking, Fast and Slow who teamed up to create prospect theory with Amos Tversky. # With Jackson Beatty, this psychologist discovered that when students listened to numbers they had to memorize, their pupils dilated, and contracted when reciting the digits. Along with a common co-author he proposed a problem testing people's understanding of Bayes theorem called the cab problem, and explored the occurrence of people giving special weight to a particular probability called the certainty effect. This lead to his most famous theory, which is expanded upon in Choice, Values, and Frames. It comes out of the Allais paradox and says that decisions have editing and evaluation phases. That theory supersedes expected utility theory and predicts that people will be risk seeking during losses. For 10 points, name this man who with Amos Tversky proposed prospect theory.